BRIDGETOWN, December 28, 2016: Trinidadian entrepreneur Peter George has been appointed Chairman of Bitt Inc.
“Having provided seed capital to Bitt, it has been a pleasure to watch Bitt blossom and to help it grow. Now, it is my intent to help nurture this trail-blazer,” said George. Bitt’s initial funding two years ago, would have come through George’s venture capital vehicle, Avatar Capital.
George is known for his array of business interests in Trinidad and Tobago and Barbados which include the Linda's Bakery chain as well as the Trent Restaurant group comprising of Trotters, Prime and Buzo. Buzo has extended its brand to Barbados.
“Peter literally knows Bitt before it was born – and has helped us to transition from a fledgling start-up to worldwide recognition,” said Bitt CEO and Co-Founder, Gabriel Abed. “We are honored to benefit from his experience and we have full confidence in his leadership,” added Oliver Gale, Bitt’s President and fellow Co-Founder, who is also from Barbados.
In April, US Retail giant Overstock.com, through its Medici Subsidiary, took a stake in Bitt Inc., putting Bitt’s current valuation at 50M USD.
At a recent board meeting at BITT's offices in Bridgetown, George was unanimously voted in as the company's Chairman.
“It is truly an honor to lead this spectacular group of young, talented and brilliant minds. The realization of the dream of making banking available to all will be the fulfillment of our responsibility to the Caribbean region and beyond. The idea that this world changing technology was conceptualized, advanced and perfected right here in the Caribbean is a source of great inspiration to all in the region that we truly can make our mark on the globe,” George stated.
George was educated at Clifton College in Bristol, UK and Emory University in Atlanta, Georgia, before leaving to join his family business. He has represented Bitt at both the Commonwealth Secretariat Conference on Digital Currency as well as at Massachusetts Institute of Technology's Media Labs Faculty.
Bitt’s multi-national team has been developing its indigenous products and services, which are scheduled to be released by the first quarter of 2017.
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